NUMISMATIC & COIN COLLECTING BASICS - COIN WORLD
Know your U.S. coins: Anthony dollar
- Published: Mar 18, 2015, 6 AM
What U.S. coin can claim these firsts?
- The first circulating coin to depict an actual woman instead of an allegorical representation.
- First circulating coin to bear a non-circular rim device.
- First circulating dollar coin to bear the "P" Mint mark and only the second denomination to bear the "P" Mint mark.
- First dollar coin struck strictly in a non-precious metal alloy.
The "firsts" are only accorded the Susan B. Anthony dollar. It's amazing that a coin that incurred so much scorn could still be such a trendsetter in its own way.
A serious discussion of a smaller-sized dollar coin began after a September 1976 study was released by the U.S. Mint. The year-long study, conducted by Research Triangle Institute of North Carolina, focused on U.S. coinage system requirements through 1990. The RTI recommended that cent production be halted by 1980, the dollar coin be downsized and the half dollar be eliminated.
At the same time, the Treasury released a study titled "A New Small Dollar Coin - Technical Considerations." That study recommended the new dollar be the same composition as the quarter dollar - 75 percent copper, 25 percent nickel bonded to a copper core, and that it be round.
The new dollar was recommended to be 26.54 millimeters in diameter (a quarter dollar is 24.3mm), weigh 8 grams, be 2.03mm thick, and have a distinctive security edge so it could be distinguished from slugs and other coins.
Frank Gasparro was the U.S. Mint's chief engraver when the Anthony dollar was authorized. When discussion of a smaller-sized dollar coin came about, Gasparro hoped he would get the opportunity to create a classic design. He prepared sketches and models for an obverse featuring Liberty with flowing hair and pole and Phrygian cap behind her head, similar to the portrait on the Liberty Cap half cent and cent of 1793. Gasparro's proposed reverse design featured an eagle flying over a mountain, 13 stars and the sun's rays.
Meanwhile, a contingent in Congress was leaning toward placing feminist Susan B. Anthony's portrait on the coin. Many collectors lobbied against the Anthony proposal in favor of a more traditional, allegorical portrait.
Ultimately, both of Gasparro's original submissions were rejected in favor of a portrait of the suffragist who led the fight that eventually won women the right to vote. The reverse would be the same one Gasparro created for the reverse of the Eisenhower dollar – an adaptation of the Apollo 11 insignia patch designed by astronaut Michael Collins - called "Eagle Landing on the Moon."
Gasparro's initial Anthony portrait was based on photographs provided by her nephews and it reflected a younger-looking Anthony. Design changes, requested by other Anthony relatives, produced a portrait of a much older woman and that's the design that came off the coin press at the Philadelphia Mint during first-strike ceremonies Dec. 13, 1978.
Despite Treasury hopes of saving money – $30 million a year was projected by reducing the demand for the $1 Federal Reserve note – the Anthony dollar never caught on with the public, which claimed the coin was too similar in size to the quarter dollar. A total of 857.2 million were struck for circulation during its first two years of issue – 1979 and 1980. Anthony dollars were struck at the Philadelphia and Denver Mints in Uncirculated condition and in both Uncirculated and Proof versions at the San Francisco Mint. Anthony dollars produced in 1981 were struck exclusively for collector sale and none were placed into circulation.
The vending industry, which had supported the change in size but fought against a more distinctive multi-edged coin, never fully converted vending machines to accept the new, smaller dollar. The coins were produced for circulation and collectors' sets in 1979 and 1980, and only for collectors in 1981. In the fall of 1985 the Mint began offering Anthony dollar sets through its catalog of products. The response surprised many, as the Anthony dollars were among the most popular items in the catalog.
In an effort to decrease the government's inventory of some 360 million SBA dollars, the U.S. Postal Service installed 9,000 vending machines to dispense Anthony dollars in change in 1993. Although USPS officials were not sure if the program would succeed, it contributed to a drawdown on Anthony dollars in Federal Reserve and Mint vaults and as of February 1996 the total left in inventory was 229.5 million coins. The dollar coin drawn down accelerated due to the needs of commerce. It had become a convenient coin to use in the nation's transit systems and vending machines. Even though a new dollar coin had been authorized for 2000, it became obvious by late 1998 that in order to meet demand and bridge the gap from the depletion of the existing Anthony dollar coins it would be necessary to strike 1999 Anthony dollars. The go-ahead was given in June to begin striking 1999 Anthony dollars at both the Philadelphia and Denver Mints in early fall. The dollars from that production began entering circulation in late November. The Philadelphia Mint struck 29,592,000 and the Denver Mint struck 11,776,000 Anthony dollars for circulation. Collectors also benefited by being offered single Proof versions of the 1999 Anthony dollar struck at Philadelphia and two-coin Uncirculated sets of Anthony dollars from Denver and Philadelphia. The Proof 1999-P mintage was 749,090.
Several varieties are recognized, including two for the 1979-S: the Filled S and the Clear S Mint mark.
During 1979 Mint engravers began using a new, much clearer S Mint mark punch to replace the old, blobbish S Mint mark in use. The old-style S has straight sides, and was used on both circulated and Proof Anthony dollars. A much clearer S was introduced on both Proof and Uncirculated strikes later that same year. In 1981 the S Mint mark introduced in 1979 was replaced with an even clearer Open S Mint mark.
The Wide Rim variety of 1979-P Anthony dollars (with the 11-sided rim being wider than the standard, Narrow Rim coins) was once considered scarce, but as more coins were released from inventory that proved not to be true.
Keep reading from our "Know Your U.S. Coins" series:
Cents and half cents:
- Half cent
- Early Date large cents
- Middle Date large cents
- Late Date large cent
- Flying Eagle cent
- Indian cent
- Lincoln cent
2- and 3-cent coins:
Dimes and half dimes:
- Early dimes
- Early Half Dime
- Seated Liberty half dime
- Seated Liberty dime
- Barber dime
- Winged Liberty Head dime
- Roosevelt dime
- Seated Liberty 20-cent
- Early Quarter Dollar
- Seated Liberty quarter
- Washington, Eagle reverse quarter
- Washington, 50 States quarter
- Washington, D.C. and U.S. Territories quarter dollars
- Early Half Dollar
- Seated Liberty half dollar
- Barber half dollar
- Walking Liberty half dollar
- Franklin half dollar
- Kennedy half dollar
- Early Dollars
- Gobrecht dollar
- Seated Liberty dollar
- Morgan dollar
- Peace dollar
- Eisenhower dollar
- Susan B. Anthony dollar
- Sacagawea dollar
- Presidential dollar
- Native American dollar